Business award recognises fast growth at Warpaint
Warpaint London had good news on Tuesday and it was news that underlined just how fast the make-up company is growing. The owner of the W7 and Technic brands said that its Warpaint Cosmetics trading subsidiary has been given the Queen's Award for International Trade for outstanding growth in overseas sales over the last three years.
It comes after rapid expansion for the firm, which first listed on London's alternative investment market (AIM) only around 18 months ago.
The annual award recognises outstanding achievement by UK businesses that have achieved substantial growth in overseas earnings and in commercial success.
The business is due to announce its latest set of results – for the 2017 financial year – on Wednesday and we should hear more about its International progress at that point.
But in announcing the award, the company said it saw its overseas sales increasing sharply between 2014 and 2016, the year in which it listed, from £2 million to £10.4 million. Total growth in revenue over the period was 420% and overseas sales as a percentage of total sales rose year-on-year.
Joint CEOs Sam Bazini and Eoin Macleod said the award “reflects our strategy to continually progress as a business and drive the success of our brands, both domestically and overseas.”
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